Columbus McKinnon Corporation (NASDAQ:CMCO) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts give Columbus McKinnon a “Moderate Buy” consensus across five ratings, with an average 12-month price target of $23.00 versus a recent share price of $18.84.
• The company exceeded quarterly expectations, reporting $0.61 in EPS against a $0.27 estimate and $531.46 million in revenue, up 125.3% year over year.
• Columbus McKinnon announced a quarterly dividend of $0.07 per share, equivalent to a 1.5% yield, while insiders also purchased shares and institutional investors own approximately 95.96% of the stock.

Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) has earned an average rating of "Moderate Buy" from the five analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, one has assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $23.00.

CMCO has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Zacks Research raised Columbus McKinnon from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their target price on Columbus McKinnon from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Weiss Ratings downgraded Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, July 31st. Finally, DA Davidson lowered their price target on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Monday, June 15th.

Columbus McKinnon Trading Up 3.2%

Shares of CMCO opened at $18.84 on Friday. The company's fifty day moving average is $16.82 and its 200 day moving average is $15.98. Columbus McKinnon has a fifty-two week low of $11.99 and a fifty-two week high of $24.40. The stock has a market capitalization of $543.72 million, a PE ratio of -2.53 and a beta of 1.36. The company has a debt-to-equity ratio of 3.95, a quick ratio of 1.00 and a current ratio of 2.00.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.27 by $0.34. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The business had revenue of $531.46 million during the quarter, compared to analyst estimates of $501.27 million. During the same quarter last year, the business earned $0.50 earnings per share. Columbus McKinnon's quarterly revenue was up 125.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Sell-side analysts expect that Columbus McKinnon will post 2.05 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. Columbus McKinnon's dividend payout ratio is currently -3.75%.

Insider Activity

In other news, Director Christopher J. Stephens acquired 2,750 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average cost of $17.14 per share, with a total value of $47,135.00. Following the transaction, the director directly owned 22,317 shares of the company's stock, valued at $382,513.38. This trade represents a 14.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP John R. Linker acquired 7,500 shares of the firm's stock in a transaction on Friday, July 31st. The stock was purchased at an average cost of $19.67 per share, with a total value of $147,525.00. Following the purchase, the executive vice president owned 7,500 shares of the company's stock, valued at $147,525. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Columbus McKinnon

A number of institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new stake in shares of Columbus McKinnon during the second quarter worth $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Columbus McKinnon by 48.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company's stock worth $30,000 after purchasing an additional 565 shares during the last quarter. Group One Trading LLC increased its stake in Columbus McKinnon by 266.7% in the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company's stock worth $32,000 after buying an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB increased its stake in Columbus McKinnon by 66.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company's stock worth $36,000 after buying an additional 1,000 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Columbus McKinnon by 267.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company's stock valued at $40,000 after buying an additional 1,893 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company's product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.

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